I’m Leaving My Law Firm, But I’m Not Ready to Retire

Career Planning for Senior Lawyers
by Carol Kanarek, JD, MSW

There’s an ever-growing number of Boomer lawyers who are leaving their jobs but who want to continue practicing law. In part, this is because of the prevalence of mandatory retirement policies in big law firms, and also because of the desire of many senior lawyers to move to “lower stress” practice settings. If this sounds like you, take note: before you take steps to make a job change, find out what, if any, impact, your continued practice of law will have on your eligibility to receive retirement benefits from your current employer. To determine this, you may need to consult an employment lawyer.

After you’ve done the legal legwork, what’s next?

Many lawyers-in-transition assume that executive search firms or legal “headhunters” are the best resources to use to find a new position. This is an understandable misconception, given that there are hundreds of legal search firms in the US. In reality, though, legal search firms are responsible for placing only a small percentage of senior lawyers.

There are a few reasons for this:

– Most large law firms and major companies seek mid-level associates, or more seasoned lawyers, with large books of portable business, and/or very specific skills, who they cannot easily recruit through advertising, word-of-mouth, and/or unsolicited resumes (more about that later).

– Most employers of lawyers – small law firms, many companies, and virtually all governmental agencies, academic institutions and non-profit agencies – don’t hire search firms because of the expense, which ranges from 20 to 33 percent of the initial annual compensation of any lawyer placed with that employer.

– Most legal search firms place lawyers only at large law firms (or branch offices or small firm “spin-offs” of large law firms). The vast majority of legal employers in suburban or rural areas – other than branch offices of large national law firms – do not use search firms. Companies that do use search firms to hire lawyers are generally located in major metropolitan areas, and are usually publicly traded. States with significant numbers of legal employers that use search firms include California, Connecticut, the District of Columbia, Florida, Georgia, Illinois, Maryland, Massachusetts, Michigan, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Tennessee and Texas. Note: if you are seeking to relocate to another geographic area, you will generally get the best results by working with a search firm in the state or region in which you wish to practice.

Search firms are used by employers to find “square pegs for square holes”. Consequently, if you are seeking a non-legal position of wish to change to a new area of practice, a legal search firm will rarely be of help. Non-legal search firms in other business sectors that interest you may provide information about the overall availability of jobs in those sectors, as well as insights regarding the sills and experience employers in that sector are seeking. As a general rule, however, they will not be able to assist you in finding your first position in a non-legal career.

The most comprehensive national directory of legal search firms is published annually as a pull-out supplement to the January issue of the American Lawyer. Many other legal periodicals also publish lists of search firms or search firm advertisements on a regular basis. If you believe you may be an appropriate candidate for a search firm, draw on your own contacts first. This way, you will almost always get a more enthusiastic hearing – and a better financial arrangement – if you “place yourself”. Afterward, seek out and speak with a few search firms that are both well-connected in your target market and experienced in placing senior lawyers. If respected search firms say they can’t place you, listen to them. Don’t look for an inexperienced search firm that will “paper the market” with your resume. You won’t get interviews that way; in fact, you may close doors by having your credentials submitted along with a hefty price tag attached. Above all, don’t be discouraged if you are among the 95 percent of senior lawyers who won’t be placed by a search firm. It doesn’t mean that you are unemployable; it simply means you need other strategies.

The ideal candidate

The ideal senior lawyer candidate usually has large law firm experience, as well as a current or prospective client base substantial enough to keep him/herself and a number of more junior lawyers busy at the billing rates in effect at large law firms. Some large law firms will use search firms to hire senior lawyers with specialized expertise, e.g., ERISA, insurance, mutual funds, Sarbanes-Oxley, and no client base, but that is rare. If you are senior and don’t have significant portable business (usually defined as over $1,000,000 in annual revenues), you are much more likely to get your foot in the door if you approach law firms directly and help them avoid the “sticker shock” of a headhunter’s fee. While large law firm experience is generally required, many corporations that use search firms to fill senior attorney or general counsel positions request candidates who have both large law firm and in-house counsel experience. Most jobs listed by corporations with search firms require corporate, securities, and/or regulatory experience, with the exception of litigation-intensive companies and financial services institutions, which may list positions with search firms for litigators with insurance, securities, employment or products liability experience.

Advertised job openings

In the Internet era, it is tempting to think you will find work by responding to online legal classifieds. And you may. After all, many law firms and corporations have online job boards. You’ll find one at The Association of Corporate Counsel Web site (www.acc.com), and another at www.TheLadders.com, which posts legal jobs with annual salaries of $100,000 or more. So you may indeed find work online. But only if your credentials and experience are squarely on point with the posted job description. And be sure your resume highlights your relevant experience, and that you use your cover letter as an opportunity to explain how you are specifically qualified for the position rather than why you want it.

A large and growing percentage of advertised job listings for lawyers are project-based or temporary in nature. The majority of these positions are listed by an employment agency, which in most instances will be your “employer” for the duration of the work assignment. Most temporary assignments involve discovery for major litigations. The work is generally full-time, and can be very hours-intensive for the duration of the assignment. This kind of work can be a good option for someone who wants to take time off between assignments, or who may want to take part of the year off. Hourly wages are generally between $20 and $50 per hour (plus overtime), although temporary positions in financial institutions or for corporate, tax or trusts and estates lawyers may pay up to $100 per hour in major cities. Many of the legal temporary agencies are listed in the American Lawyer’s Directory of Legal Search Firms.

Professional networking

The overwhelming majority of senior lawyers discover that professional networking is the most effective means for securing new employment. In this way, all sorts of possibilities open up: valuable tips about the market, and what approaches work best, from those who recently changed positions themselves … information from senior lawyers in other firms who may have work that might tie in with what you’re doing or hope to develop … possible referrals to clients looking for in-house counsel … and, from business executives in the community, you might find companies that have emergent legal needs … perhaps even a position. Incidentally, don’t assume that a company without a general counsel’s office doesn’t need a lawyer. In the process of networking, ask local business owners if they are satisfied with the price and quality of their legal services. Find out what their problem areas are, and then sell yourself as a solution to those problems. You may discover that some of these companies are paying a lot of money for expensive outside counsel, but haven’t hired in-house counsel because they don’t need someone on a full time basis. Identifying such situations can be win-win for both you and the company; they save money, and you can reduce your work hours while continuing to practice law.

Of course, networking is not for everyone. So, you might want to explore what job-search or lawyer-in-transition programs are available through your local bar or through business networking organizations such as the Five O’Clock Club. Your local college or university may also offer continuing education programs on the various elements of the job search process. And don’t overlook the career services office at local law schools, and the professional development professionals at local law firms. Both are often a good source of referrals to networking groups.

Once you have identified some general employment sectors that sound interesting to you, talk to as many people as possible who are actually employed in those jobs. Ascertain what they really do on a day to day basis, what the level of demand is in their fields, what compensation levels are, and what skills, training or licenses are prerequisites for entry-level employment. This so-called informational interviewing is important for two reasons. First, it is next to impossible to sell yourself for a non-legal position if you don’t know what specific skills are required so that you can functionalize your legal credentials in a way that will make sense a potential new employer.

Second is the “be careful-what-you wish-for” factor. Your due diligence will give you a reality check by gaining an insider’s view of the pros and cons of a particular prospective job. You may discover that many people think YOUR current job sounds wonderful, and they secretly wish they could change places with you!

It is also especially helpful to see a resume of the person who holds the type of job that appeals to you, so that you can create a version of your own resume that uses the language of your desired new career. This will also help you to pinpoint key skills you may be lacking so that you can determine whether or not you will need additional training before you can pursue this line of work.

Are you thinking about going back to school? Admissions officers tend to paint a rosy picture because they are looking for your tuition dollars. So, seek out the school’s career services office to get a realistic sense of the types of jobs and salaries obtained by new graduates, and what special challenges second-career students may face.

Finding work inside, outside & around the law

Although most self-help books tell you that career-change begins with personal introspection, this actually might be less helpful for a senior lawyer than a market analysis. By this, I mean identifying legal jobs for which demand in a particular employment sector exceeds the supply of those currently working in or trained for that field. The advantage is that potential employers are more willing to look “outside of the box” in terms of previous experience for new hires. How can you identify what areas are in demand? Look at the ads in your local newspaper, talk to human resource directors at local companies, and – most important – make professional networking a way of life. Whenever you meet someone new, ask him or her what is at the top of their employer’s wish list in terms of skills needed for new employees.

There are a number of law-related jobs for experienced lawyers who want to make career transition. They fall into five main categories – law school teaching, law school administration, law firm administration, legal search, and continuing legal education:

Teaching opportunities – Includes adjunct, clinical and legal writing or “lawyering” faculty positions at law schools. Compensation is low, but the work usually facilitates professional networking and practice development. Check out the Web site for the Association of American Law Schools (www.aals.org), the professional association of more than 160 law schools.

Law school administration – Opportunities include career services, admissions, alumni programs, fundraising/development and diversity initiatives. Most successful applicants for these positions are lawyers. Fund-raising and development, in particular, is a growing field.

Law firm administration – Includes law student recruiting, lateral recruiting, associate orientation and training, practice group assignments and/or administration, legal personnel (evaluation, diversity, outplacement), marketing, and pro bono coordination.

Legal search firms – In major metropolitan areas there are often many opportunities in legal search with both permanent and temporary placement firms, particularly when the economy is strong.

Continuing legal education – One of the biggest growth areas in recent years has been in lawyer training. If CLE’s are mandated in your state, there are probably employment opportunities in bar associations, law firms and private training companies for lawyers who can provide training and/or organize training programs. To help identify other work opportunities for lawyers, I can recommend two resources – What Can You Do With a Law Degree?, and Changing Jobs: A Handbook for Lawyers (ABA, 3rd edition).

– Carol Kanarek, JD/MA/MSW. Ms. Kanarek is currently a clinical social worker who provides outplacement, career counseling and career-coaching services to lawyers around the country. For details, see her profile under “New York” in the accompanying roster. Contact — ckanarek@aol.com.